We in the United States woke up this morning to learn of the devastating earthquake in Japan, a magnitude 8.9 quake (the largest, it is reckoned, to ever have hit Japan), according to the U.S. Geologic Survey, that hit at 2:46pm local time about 80 miles east of Sendai, Honshu. (A haunting, and terrible, set of images is provided by the Sydney Morning-Herald, the New York Times, and the Globe and Mail.) There were waves of up to 30 feet, according to Reuters, that triggered tsunami waves of up to 30 feet that swept across farmland, carrying away homes, crops, vehicles and triggering fires.

According to the U.S.G.S, the quake

occurred as a result of thrust faulting on or near the subduction zone interface plate boundary between the Pacific and North America plates. At the latitude of this earthquake, the Pacific plate moves approximately westwards with respect to the North America plate at a velocity of 83 mm/yr. The Pacific plate thrusts underneath Japan at the Japan Trench, and dips to the west beneath Eurasia. The location, depth, and focal mechanism of the March 11 earthquake are consistent with the event having occurred as thrust faulting associated with subduction along this plate boundary.

Just how powerful was this quake? According to the U.S.G.S.’s Susan Hough, it “is going to be among the top 10 earthquakes recorded since we have had seismographs.”

U.S.G.S.

The damage in Japan has been described by one commentator as “apocalyptic,” and the death toll, standing at several hundred at the time of this post, is sure to rise. A nuclear power plant in Japan was evacuated (some 30% of Japan’s energy comes from nuclear), raising fears that the destruction could go well beyond what we’ve seen before. (Good coverage of the earthquake can be found in the BBC and the Telegraph.)

Aid offers and requests have been pouring in, as the world tries to mobilize the victims of the disaster. In Taiwan, for example, the Red Cross Society there has “organized medical and rescue teams and prepared supplies, and is ready to ship these resources to Japan as soon as Tokyo issues the call for help,” and the U.S. stands at the ready to provide massive assistance.

The Internet has been abuzz, and one report has shown that Facebook posts on the Japan quake have been coming at dozens per second.

Other observers are wondering about the impact on the global economy, which has been inching out of recession. The Bank of Japan pledged to ensure liquidity, while Toyota shut some of its plants, while economist Nouriel Roubini said that the natural disaster came at the “worst time” for Japan: “There will be fiscal stimulus to reconstruct but Japan already has a budget deficit of close to 10 percent of” gross domestic product and an aging population.”